South Africa Minister of Trade & Industry Announces Intent to Negotiate Second National Lottery License with Another Consortium
August 01 2006 - 5:45PM
PR Newswire (US)
WEST GREENWICH, R.I., Aug. 1 /PRNewswire-FirstCall/ -- GTECH
Holdings Corporation (NYSE:GTK) today announced that Uthingo
Management (Pty) Limited, the current lottery operator for the
South Africa National Lottery, was notified by the Minister of
Trade & Industry of the intent to negotiate a contract for the
second National Lottery license with another consortium. GTECH is a
10 percent equity partner in and a technology supplier for the
Uthingo consortium. Through Uthingo, GTECH has provided lottery
products and services to the South Africa National Lottery since
1999. Uthingo's current license with the Lottery is set to expire
in April 2007. GTECH earns approximately $10 million in annual
revenue through its ownership of and supply agreements with
Uthingo. Certain statements contained in this press release are
forward looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. The Company identifies forward looking statements by
words such as "may," "will," "should," "could," "expect," "plan,"
"anticipate," "intend," "believe," "estimate," "continue," or
similar words that refer to the future. Such statements include,
without limitation, statements relating to the prospects and
financial outlook for the Company, which reflect management
assumptions regarding: (i) the future prospects for and stability
of the lottery industry and other businesses in which the Company
is engaged or expects to be engaged, (ii) the future operating and
financial performance of the Company (including, without
limitation, expected future growth in revenues, profit margins and
earnings per share), and (iii) the ability of the Company to retain
existing business and to obtain and retain new business. Such
forward looking statements reflect management's assessment based on
information currently available, but are not guarantees and are
subject to risks and uncertainties that could cause actual results
to differ materially from those contemplated in the forward looking
statements. These risks and uncertainties include, but are not
limited to, those set forth above, in the Company's subsequent
press releases and on reports by the Company on Forms 10-K, 10-Q
and 8-K, and other reports and filings with the Securities and
Exchange Commission, as well as risks and uncertainties respecting:
(i) the potential impact of extensive and evolving government
regulations upon the Company's business; (ii) the ability of the
Company to continue to retain and extend its existing contracts and
win new contracts; (iii) the possibility of slower than expected
growth or declines in sales of lottery and gaming goods and
services by the Company or the Company's customers; (iv) exposure
to foreign currency fluctuations; (v) risks and uncertainties
inherent in doing business in foreign jurisdictions; (vi) the
relatively large percentage of the Company's revenues attributable
to a relatively small number of the Company's customers; (vii) the
possibility of significant fluctuation of quarterly operating
results; (viii) the intensity of competition in the lottery and
gaming industries; (ix) the possibility of substantial penalties
under and/or termination of the Company's contracts; (x) the
ability of the Company to respond to technological change and to
satisfy the future technological demands of its customers; (xi)
opposition to expansion of lottery and gaming; (xii) the Company's
ability to attract and retain key employees; (xiii) the possibility
of adverse determinations in pending legal proceedings; and (xiv)
the ability of Lottomatica and the Company to complete their
proposed merger. GTECH is a leading gaming technology and services
company. With more than $1.3 billion in annual revenues and 5,300
people in over 50 countries, GTECH provides integrated technology,
creative content, and business services to effectively manage and
grow today's evolving gaming markets. In targeted emerging
economies, GTECH also leverages its operational presence and
infrastructure to supply commercial transaction processing
services. For more information about the Company, please visit
GTECH's website at http://www.gtech.com/. Contact: Robert K.
Vincent Public Affairs GTECH Corporation 401-392-7452 DATASOURCE:
GTECH Holdings Corporation CONTACT: Robert K. Vincent of GTECH
Corporation, +1-401-392-7452 Web site: http://www.gtech.com/
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